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- 1 The Web3 social media platforms work on the principles of user control, transparency, and privacy.
- 2 Mastodon, Audius, and Minds are some Web3 social media platforms where users can create their own profiles.
Social media platforms are constantly developing with every passing day. These platforms provide a sophisticated space for users to collaborate with others. These are mostly used to stay in contact with others, for business enhancement, and for updates in various fields.
The major concern of users while using these social media platforms is security and privacy. Most of the platforms invade the personal data of users. The Web3 social media platform aims to change all of this.
Web3 social media platform combines advanced technology with principles of fairness and privacy. In this, instead of one company controlling the server, users have more control over their data and online identities.
Some of the Web3 social media platforms that accommodate users are mentioned below:
Minds
Minds is an open-source Web3 social media platform. It provides users with decentralized and enhanced privacy alternatives to main social networks. The premium membership of Minds will give chances to users to earn Minds tokens and crypto for boosting content.
The tokens are stored on the Ethereum blockchain which provides transparency and accountability for token transactions. Mind token is only used in the Minds server.
Minds encourages free speech and hosts networking communities with varied interests including discussions on politics, art, crypto, social issues, etc. This Web3 social media platform does not use advertising. Instead, it uses a free version of boosted posts, which can be turned off in paid membership.
CyberConnect
CyberConnect is also a decentralized social graph protocol that provides developers with a rich set of tools to build Web3 social applications. If a user uses CyberConnect-backed social networks, then they can truly own their social identities.
For monetizing, content developers can create blogging platforms where users can publish their content in NFT format on the selected blockchain. CYBER is the native currency of the platform.
Audius
Audius is an advanced social media platform that is built for musicians. This decentralized platform allows the artist to directly upload, share, and monetize their music. It gives full control over the music.
The Web3 social media platform encourages artists to connect with music streaming, favorite tracks, and playlists by posting and reposting. The user can directly communicate with artists and provide feedback. The user has full control over their data. $AUDIO is the native currency of the platform that is used for staking. It acts as a governance token and is also used to reward the artists.
Mastodon
Mastodon is the most popular emerging Web3 social media platform. It functions on a federated model which has several independent servers known as instances from a network.
Each instance is operated independently. This gives users a chance to select the instance that best suits their preferences and community guidelines. The platform does not have its crypto or built-in reward system. The main focus of Mastodon is decentralized social media besides including blockchain principles.
Summary
The Web3 social media platforms give priority to user control over the data and online identity. In this way, it protects from the misuse of personal information. It provides seamless interoperability with other decentralized applications (DApps) and platforms. Thus, with this, users can move their data across different services.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
